Nutanix (NASDAQ:NTNX) PT Raised to $72.00

Nutanix (NASDAQ:NTNX) had its price target hoisted by Morgan Stanley from $63.00 to $72.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target suggests a potential downside of 0.35% from the stock’s previous close.

NTNX has been the topic of a number of other research reports. Barclays lifted their target price on Nutanix from $49.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Susquehanna boosted their price target on Nutanix from $60.00 to $75.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. JMP Securities boosted their price target on Nutanix from $50.00 to $70.00 and gave the stock a “market outperform” rating in a report on Monday, February 5th. KeyCorp boosted their price target on Nutanix from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. boosted their price target on Nutanix from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Nutanix presently has an average rating of “Moderate Buy” and an average target price of $66.38.

Nutanix Stock Performance

Shares of NASDAQ NTNX traded up $0.39 during mid-day trading on Thursday, reaching $72.25. The company had a trading volume of 366,909 shares, compared to its average volume of 2,540,037. Nutanix has a one year low of $25.24 and a one year high of $73.69. The firm has a market cap of $17.65 billion, a price-to-earnings ratio of -200.69 and a beta of 1.27. The business’s 50-day simple moving average is $64.03 and its 200 day simple moving average is $55.30.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.17 EPS for the quarter. The company had revenue of $565.23 million during the quarter, compared to the consensus estimate of $551.82 million. On average, sell-side analysts anticipate that Nutanix will post -0.04 EPS for the current year.

Insider Activity

In other news, CFO Rukmini Sivaraman sold 53,029 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $64.77, for a total transaction of $3,434,688.33. Following the completion of the sale, the chief financial officer now owns 144,635 shares in the company, valued at $9,368,008.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Nutanix news, CFO Rukmini Sivaraman sold 53,029 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $64.77, for a total value of $3,434,688.33. Following the completion of the transaction, the chief financial officer now owns 144,635 shares in the company, valued at approximately $9,368,008.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven J. Gomo sold 25,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $64.11, for a total value of $1,602,750.00. Following the completion of the transaction, the director now owns 3,962 shares of the company’s stock, valued at approximately $254,003.82. The disclosure for this sale can be found here. Insiders sold a total of 129,506 shares of company stock worth $8,270,938 over the last quarter. 0.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NTNX. Principal Financial Group Inc. lifted its position in shares of Nutanix by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 21,017 shares of the technology company’s stock valued at $733,000 after buying an additional 1,391 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Nutanix by 4.4% during the 3rd quarter. California Public Employees Retirement System now owns 428,922 shares of the technology company’s stock worth $14,961,000 after purchasing an additional 18,225 shares in the last quarter. Ieq Capital LLC purchased a new stake in Nutanix during the 3rd quarter worth about $246,000. Victory Capital Management Inc. lifted its holdings in Nutanix by 2.8% during the 3rd quarter. Victory Capital Management Inc. now owns 25,650 shares of the technology company’s stock worth $895,000 after purchasing an additional 707 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in Nutanix by 13.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 932,324 shares of the technology company’s stock worth $32,519,000 after purchasing an additional 111,166 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

About Nutanix

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.